How to Obtain an EIN in New Hampshire | A Comprehensive Guide

Obtain an EIN in New Hampshire

In starting an LLC in New Hampshire, it is crucial to understand the importance of an Employer Identification Number (EIN) and how it impacts your business operations. An EIN is a unique nine-digit number the Internal Revenue Service (IRS) assigns to businesses operating in the United States for identification purposes. This number is essential for running a business, such as filing taxes, opening bank accounts, and hiring employees.

This article will explore the complete guide to obtaining an EIN in New Hampshire and the responsibilities and requirements associated with having an EIN.

Webinarcare Editorial Team will help you understand the process of obtaining an EIN. You must be guided by all the factors gathered in this article.

EIN Definition and Purpose

To form an LLC, an EIN is necessary for your business. An Employer Identification Number (EIN) is a federal tax identification number used by the Internal Revenue Service (IRS) to identify businesses in the United States. It is similar to a Social Security Number (SSN) for individuals but is specifically designed for businesses. The main purpose of an EIN is to help the IRS track and administer taxes for companies.

In New Hampshire, businesses are required to have an EIN if they meet any of the following criteria:

  • Have employees
  • Operate as a Partnership or Corporation in New Hampshire
  • File tax returns for employment, excise, or Alcohol, Tobacco, and Firearms (ATF) taxes
  • Withhold taxes on income, other than wages, paid to a non-resident alien
  • Have a Keogh plan (a tax-deferred pension plan for self-employed individuals or unincorporated businesses)
  • Are involved with trusts, estates, real estate mortgage investment conduits, non-profit organizations, farmers’ cooperatives, or plan administrators

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How to Obtain an EIN in New Hampshire

Obtaining an EIN in New Hampshire is a straightforward process; several methods are available to apply for one. However, if you want to be at ease with the process you can hire an LLC Services in New Hampshire, with add-ons of obtaining an EIN.

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Online Application Process

The easiest and fastest way to obtain an EIN is by applying online through the IRS website. The online application is available for businesses in New Hampshire and the rest of the United States.

irs

To apply for an EIN online, follow these steps:

  1. Visit the IRS EIN Assistant webpage.
  2. Click “Apply Online Now” and follow the prompts to complete the application.
  3. Provide the necessary information, such as your legal name, trade name (if applicable), business address, and the responsible party’s Social Security Number or Individual Taxpayer Identification Number.
  4. Select the appropriate legal structure for your business (e.g., sole proprietorship, general partnership, corporation, etc.).
  5. Provide additional information as required, such as the number of employees, the reason for applying, and the primary business activity.
  6. Review and submit your application.

Upon successful completion of the application, you will receive your EIN immediately. Save or print a copy of the confirmation notice for your records.

Other Application Methods

If you prefer not to apply online or are unable to access the online application, you can also obtain an EIN through the following methods:

  • Fax: Complete Form SS-4 (Application for Employer Identification Number) and fax it to the appropriate fax number listed on the IRS website. You should receive your EIN within four business days.
  • Mail: Complete Form SS-4 and mail it to the appropriate address on the IRS website. The processing time for mailed applications is approximately four weeks.
  • Telephone: International applicants can apply for an EIN by calling the IRS at 267-941-1099 (not a toll-free number) from 6:00 a.m. to 11:00 p.m. Eastern Time, Monday through Friday.

After you have your EIN number, you can benefit in several ways. It will give your New Hampshire LLC the final advantage necessary to operate fully without legal or judicial issues.

If you have a Registered Agent, he can file an EIN for your business. Also, if you are planning to file for an LLC in New Hampshire, your Registered Agent should file for the Certificate of Formation in New Hampshire.

Uses of EIN in New Hampshire

An EIN must run a business in New Hampshire. Some of the primary uses for an EIN include:

Opening a Business Bank Account

Banks typically require an EIN to open a business bank account, which is essential for separating your personal and business finances. With a business bank account, you can accept payments, deposit funds, and manage your company’s finances more efficiently.

If you are planning a bank for your New Hampshire business, you can check out the Best Banks in New Hampshire, which offer the best combination of fees, services, and convenience for your business needs.

Filing State and Federal Taxes

Businesses in New Hampshire must file taxes with both the state and federal governments, and an EIN is necessary to report and pay these taxes. Your EIN is used on various tax forms, such as income tax returns, employment tax returns, and excise tax returns which you can pay in New Hampshire Department of Revenue Administration.

Payroll and Employee Tax Reporting

If your business has employees, you will need an EIN to report wages and other compensation paid to your workers. Additionally, an EIN is required for withholding and remitting federal income and payroll taxes on your employees’ behalf.

If you hire an employee for your business, you must request that your employees complete the following forms:

  • Employment Eligibility Form
  • Federal Tax Withholding Form
  • W-4 Form
  • Workers Compensation Claim Form
  • Disability Self-Identification Form
  • U.S. Citizenship and Immigration Services Form

Applying for Business Licenses and Permits

An EIN is often required when applying for business licenses and permits in New Hampshire. These licenses and permits may be necessary for various aspects of your business operations, such as zoning approval, health permits, or sales tax registration.

In New Hampshire, business license fee costs around the range of $50 – $300. You can check out New Hampshire Business Licenses to learn more about licenses and permits.

Establishing Credit and Securing Loans

An EIN can help your business establish credit, as it serves as an identifier for your company in the eyes of financial institutions. Additionally, lenders may require an EIN when applying for business loans or lines of credit.

Responsibilities and Requirements for EIN Holders in New Hampshire

As an EIN holder in New Hampshire, you are responsible for several tasks related to maintaining and managing your EIN. Some of these responsibilities and requirements include:

Updating the IRS on Changes to Business Information

If your business undergoes significant changes, such as a change in address, legal structure, or a responsible party, you must inform the IRS by filing the appropriate forms. This ensures the IRS has accurate and up-to-date information about your business and can properly administer taxes.

update my information

You can go to the Update My Information website of the Internal Revenue Service.

Required Tax Filings and Payments

With an EIN, your business is responsible for filing various tax returns and making tax payments to federal and state governments. Be informed about the specific tax obligations for your business type and industry in New Hampshire.

To keep your business in good standing in New Hampshire, you must file an Annual Report with the New Hampshire Secretary of State. The annual report provides updated information about your LLC, such as changes in address, members, or Registered Agent.

Record-Keeping Requirements

Proper record-keeping is essential for businesses with an EIN, as it helps ensure accurate tax reporting and compliance with laws and regulations. Maintain records of your company’s income, expenses, and other financial transactions to facilitate accurate tax filing and minimize potential issues with the IRS.

Establish a reliable accounting system to track income, expenses, and tax obligations. You can manage your finances using spreadsheets, accounting software, or hiring a professional accountant.

Closing an EIN Account

Suppose your business ceases operations or no longer requires an EIN. In that case, you must notify the IRS by submitting a letter containing your complete legal name, EIN, business address, and the reason for closing the account. This allows the IRS to update its records and prevent future tax-related issues.

cancel EIN

If you have a copy of the EIN Assignment Notice that was issued when your EIN was assigned, include that when you write it to the IRS with the below mailing address:

  • Internal Revenue Service MS 6055 Kansas City, MO 64108
  • Internal Revenue Service MS 6273 Ogden, UT 84201

Or, you can check out Canceling an EIN via the IRS for further information.

Common Issues and Solutions for EIN in New Hampshire

Business owners in New Hampshire may encounter issues related to their EIN, such as losing or misplacing the number, incorrect information on the EIN application, or changes in business structure or ownership. Here are some solutions to common EIN-related problems:

  • Lost or Misplaced EIN: If you lose or misplace your EIN, you can contact the IRS by calling their Business & Specialty Tax Line at 1-800-829-4933. The IRS representative can provide you with your EIN after verifying your identity.
  • Incorrect Information on EIN Application: Suppose you discover an error on your EIN application, such as an incorrect business name or address. In that case, you can correct the information by submitting a letter to the IRS detailing the changes. Be sure to include your EIN, the incorrect information, and the correct information in your letter.
  • Change in Business Structure or Ownership: If your business undergoes a significant legal structure or ownership change, you may need to obtain a new EIN. Consult the IRS guidelines to determine if a new EIN is necessary.
  • Dealing with Identity Theft or Fraud: If you suspect your EIN has been compromised or used fraudulently, immediately report the issue to the IRS. The IRS can guide you through the steps to secure your EIN and protect your business from potential tax-related issues.

State-Specific EIN Information and Resources

To further assist businesses in New Hampshire, here are some state-specific resources and information related to EINs and taxation:

  • State Tax Agency Information: The New Hampshire state tax agency can provide information on state tax requirements, forms, and filing deadlines. Be sure to familiarize yourself with the state tax obligations for your business type and industry.
  • Business Registration Requirements: In addition to obtaining an EIN, businesses in New Hampshire must also register with the appropriate state agencies. This may include registering your business name, obtaining necessary licenses and permits, and registering for state taxes.
  • Employer Tax Obligations and Filings: Employers in New Hampshire must comply with various state tax obligations, such as withholding state income tax from employee wages and reporting these withholdings to New Hampshire Department of Revenue Administration. Research your business’s specific employer tax requirements in New Hampshire.
  • Local Resources and Assistance for Businesses in New Hampshire: Many local organizations and government agencies in New Hampshire offer resources and assistance for small business owners. These resources may include business counseling, training, and financial assistance programs.

Do I Need to Apply for an EIN If I Also Have Business In Other States?

Yes, if you are operating a business with employees, have a corporation or partnership, or are required to file employment, excise, or alcohol, tobacco, and firearms tax returns, you will need an EIN (Employer Identification Number). If your business operates in multiple states, you only need one EIN for federal tax purposes. However, you may need to register for state-specific tax identification numbers in each state where you conduct business. Check with the New Hampshire Department of Revenue Administration to determine their requirements.

FAQs

How do I obtain an EIN in New Hampshire?
You can obtain an EIN in New Hampshire by applying online through the IRS website or by submitting Form SS-4 by fax, mail, or by telephone.
What is the purpose of an EIN in New Hampshire?
An EIN in New Hampshire is used for tax purposes to identify businesses, trusts, estates, and other entities that file tax returns.
Is there a fee to obtain an EIN in New Hampshire?
No, there is no fee to obtain an EIN in New Hampshire.
Can I use my Social Security Number (SSN) instead of an EIN in New Hampshire?
If you are a sole proprietor, you can use your SSN instead of an EIN in New Hampshire, but it is recommended to obtain an EIN to protect your SSN.
How long does it take to obtain an EIN in New Hampshire?
If you apply online, you can obtain an EIN in New Hampshire immediately. If you apply by mail, it can take up to four weeks.
Can I change the name or address on my EIN in New Hampshire?
Yes, you can change the name or address on your EIN in New Hampshire by submitting Form SS-4 to the IRS.
Do I need an EIN if I am a sole proprietor in New Hampshire?
No, but it is recommended to obtain an EIN to protect your SSN.
Can I apply for an EIN in New Hampshire if I already have one for another business?
Yes, you can apply for an EIN in New Hampshire for a new business even if you already have one for another business.
Do I need an EIN if I am a nonprofit organization in New Hampshire?
Yes, all nonprofit organizations in New Hampshire are required to obtain an EIN.
Can I apply for an EIN in New Hampshire if my business is located outside of the state?
Yes, you can apply for an EIN in New Hampshire regardless of where your business is located as long as you have a physical address in the U.S.
What types of businesses are required to obtain an EIN in New Hampshire?
All LLCs, partnerships, corporations, trusts, estates, nonprofit organizations, and any business that has employees in New Hampshire are required to obtain an EIN.
What do I need to apply for an EIN in New Hampshire?
You will need your business name, address, tax classification, and social security number or tax identification number.
How do I reapply for an EIN in New Hampshire if my application is denied?
You can correct any errors on the application and resubmit it to the IRS.
Can I apply for an EIN in New Hampshire if I am a foreign entity?
Yes, as long as you have a valid U.S. tax identification number.
Do I need an EIN in New Hampshire if I am a DBA?
It depends. If your DBA has its own bank account, filing taxes, or has employees, you will need your own EIN.
How do I obtain an EIN verification letter in New Hampshire?
You can use the IRS EIN verification service online to obtain an EIN verification letter in New Hampshire.
Can I apply for an EIN over the phone in New Hampshire?
Yes, you can apply for an EIN over the phone by calling the IRS business and specialty tax line.
Do I need an EIN if I am a freelancer in New Hampshire?
If you are a sole proprietor and you use your name as the business name, you do not need an EIN. But, if you have employees or are a DBA, you will need an EIN.
Is an EIN required to open a business bank account in New Hampshire?
Yes, an EIN is usually required to open a business bank account in New Hampshire.
Is an EIN the same as a tax ID number in New Hampshire?
Yes, an EIN is a tax identification number used by the IRS to identify businesses, trusts, and estates for tax purposes.
Can I cancel my EIN in New Hampshire?
Yes, if you have not used your EIN to file taxes or make any tax payments, you can cancel it by rationalizing with the IRS.
Do I need a state tax ID in addition to an EIN in New Hampshire?
If you have employees in New Hampshire or if you are subject to a variety of taxes in the state, apart from federal taxes, you will need to obtain a state tax ID.
What if my EIN is stolen in New Hampshire?
you must report the use of your stolen EIN to the IRS immediately.
What if I lose my EIN confirmation letter in New Hampshire?
You can call the IRS to obtain a replacement EIN confirmation letter.
Can I use my EIN for multiple businesses in New Hampshire?
No, each business you operate must have its own EIN.
Can I apply for an EIN in New Hampshire if my business is not yet registered?
You must have already formed your business entity and registered it with the state before applying for an EIN in New Hampshire.
What happens if I don’t get an EIN in New Hampshire?
If you are required to obtain an EIN and you fail to do so, you may have to pay penalties and fines.
How often do I need to obtain a new EIN in New Hampshire?
You only need to obtain a new EIN in New Hampshire if your business entity’s ownership or structure changes.
What is an EIN?
An EIN is a nine-digit number assigned to businesses operating in the United States for tax identification purposes.
Can I obtain an EIN in person in New Hampshire?
No, you cannot obtain an EIN in person in New Hampshire.
Do I need an EIN for my New Hampshire business?
Yes, most businesses in New Hampshire need an EIN.
How long does it take to get an EIN in New Hampshire?
It usually takes about four to seven business days to get an EIN in New Hampshire.
Can I apply for an EIN without a Social Security Number in New Hampshire?
Yes, you can apply for an EIN without a Social Security Number in New Hampshire.
What is the address to mail Form SS-4 to obtain an EIN in New Hampshire?
The address to mail Form SS-4 to obtain an EIN in New Hampshire is
Can I fax Form SS-4 to obtain an EIN in New Hampshire?
Yes, you can fax Form SS-4 to obtain an EIN in New Hampshire. The fax number is (855) 641-6935.
Am I required to have a business address to obtain an EIN in New Hampshire?
Yes, you must have a business address to obtain an EIN in New Hampshire.
Can I apply for an EIN by phone in New Hampshire?
Yes, you can apply for an EIN by phone in New Hampshire. The number to call is (800) 829-4933.
Can I use my personal address to obtain an EIN in New Hampshire?
Yes, you can use your personal address to obtain an EIN in New Hampshire as long as it is the address of your business.
Can I apply for an EIN online in New Hampshire?
Yes, you can apply for an EIN online in New Hampshire. The website to apply is www.irs.gov.
Do I need to be a US citizen to obtain an EIN in New Hampshire?
No, you do not need to be a US citizen to obtain an EIN in New Hampshire.
Can I apply for an EIN for my nonprofit organization in New Hampshire?
Yes, you can apply for an EIN for your nonprofit organization in New Hampshire.
What if I forgot my EIN number?
You can check for your EIN number on previous tax returns or contact the IRS.
Does obtaining an EIN mean I have registered my business in New Hampshire?
No, obtaining an EIN does not mean you have registered your business in New Hampshire.
Can I cancel my EIN once I have obtained it in New Hampshire?
No, you cannot cancel your EIN once you have obtained it in New Hampshire.
Do I need a certain type of business structure to obtain an EIN in New Hampshire?
No, you do not need a certain type of business structure to obtain an EIN in New Hampshire.
What if I need to change my business information after obtaining an EIN in New Hampshire?
You can update your business information by filing Form 8822-B with the IRS.
Is there a deadline to obtain an EIN in New Hampshire?
No, there is no deadline to obtain an EIN in New Hampshire.
Can I apply for an EIN on behalf of someone else in New Hampshire?
Yes, you can apply for an EIN on behalf of someone else in New Hampshire.
Can I use my personal Social Security Number for my business in New Hampshire?
No, you should not use your personal Social Security Number for your business in New Hampshire.
Can I change my EIN number in New Hampshire?
No, you cannot change your EIN number in New Hampshire.
Should I obtain an EIN if I am a sole proprietor in New Hampshire?
It is not required, but it is recommended to obtain an EIN if you are a sole proprietor in New Hampshire.
Do I need to obtain an EIN for a single-member LLC in New Hampshire?
Yes, you need to obtain an EIN for a single-member LLC in New Hampshire.
Can I amend my tax return if I entered the wrong EIN in New Hampshire?
Yes, you can amend your tax return if you entered the wrong EIN in New Hampshire.
What if I need to close my New Hampshire business after obtaining an EIN?
You need to notify the IRS that your business has closed by writing to
What do I do if I lost my EIN confirmation letter in New Hampshire?
You can retrieve a copy of the confirmation letter by contacting the IRS.

Also Read

How to Save Money While Getting Ein for New Hampshire LLC

One way to save money when forming an LLC in New Hampshire is to do as much of the legwork yourself as possible. This includes researching the requirements for creating an LLC in the state, filling out the necessary forms, and submitting them to the appropriate government agencies. By taking the time to educate yourself on the process and handle as much of it on your own as you can, you can avoid having to pay expensive attorney or filing fees.

Another way to save money when forming an LLC in New Hampshire is to shop around for the best deals on services such as registered agent services or the creation of an Operating Agreement. Many companies offer these services at competitive rates, so it pays to compare prices before committing to one provider. In some cases, you may even be able to find free or discounted services through partnerships or promotions, which can help you save even more money.

Additionally, consider the long-term costs of maintaining your LLC in New Hampshire. While the initial formation fees are a one-time expense, there are ongoing requirements such as annual reports and fees that must be paid to keep your LLC in good standing. By keeping track of these deadlines and budgeting for them accordingly, you can avoid any late fees or penalties that could eat into your savings.

It’s also important to consider whether you actually need an LLC for your business. While LLCs offer a lot of benefits, such as limited liability protection and pass-through taxation, they may not be the best choice for every small business. In some cases, a sole proprietorship or partnership may be a more cost-effective option, especially if you’re just starting out and don’t have many assets or employees to protect.

In conclusion, forming an LLC in New Hampshire doesn’t have to break the bank. By doing your research, shopping around for the best deals, and carefully considering whether an LLC is the best choice for your business, you can save money while still getting all the benefits that come with creating a limited liability company. With a little bit of effort and planning, you can successfully start your business in New Hampshire without draining your bank account.

Conclusion

Understanding the importance and uses of an EIN in New Hampshire is crucial for the successful operation of your business. By obtaining and maintaining your EIN, you can ensure compliance with federal and state tax laws, establish a strong financial foundation for your company, and access various resources and opportunities for growth. Be sure to utilize the available resources and support for businesses in New Hampshire to maximize your chances of success.

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